Real Estate Problems

Real Estate Problems

If you are selling or buying a property, you may be faced with real estate problems you don’t know how to handle. Here is what you should know.

Real Estate Problems | What Is the Biggest Mistake Made When Buying or Selling Properties?

Our firm believes that the biggest mistake in acquiring a residence is falling in love with the house before you really know what its value is. It is important that you have a real estate broker or an attorney who will be able to apprise you of what the market in that area is and to have a general understanding of the conditions of those local properties. If there is an issue with regard to a sinkhole, asbestos, or the education system in the area, you want to know these things as you investigate whether you want to buy the house. Before you fall in love with the house and decide that it is the house for you, find out the answers to those questions so that you can be comfortable with the house for years to come.

Real Estate Problems | What Issues Can Arise from a New York Real Estate Transaction?

The buyer and the seller must be able to coordinate and communicate transactions. This may sound easy, but there are so many circumstances that can arise. Our firm knows that people have to work to accommodate one another, and every party involved must finish her or his work. Title searches, surveys, and grid requirements all have to be respected, and everybody has to be on the same page in terms of timing. Communication is essential, and it so simple to accomplish this nowadays via email. Each party can communicate where he or she is in the process of the transaction to the other parties so that everyone can coordinate.

Real Estate Problems | What Issues Should Be Examined in the Real Estate Agreement of Sales?

In Erie and Niagara Counties, properties are selling rapidly. People are getting multiple bids for properties. This has created a trend in which, once the bids are put in, an impromptu auction occurs. Our firm believes that sellers should make sure that their realtors are entertaining all the different offers and negotiating the best prices. Conversely, attorneys who represent buyers should not continue negotiating once they have agreed upon or submitted purchase prices with a third party. The goal is to have the property taken off the market as quickly as possible. A wise choice would be to include terms in the real estate agreement that dictated the removal of the property from the market on the date that the agreement were signed.

If you have other real estate problems you need to talk about, please call our Buffalo real estate lawyer Randy Gugino today for a free consultation.

Author: Randy Gugino

The Law Office of Randy H. Gugino has provided comprehensive legal services to clients in the Buffalo region and throughout Western New York for more than 30 years. Your first consultation with Mr. Gugino is without cost and at no obligation. Please allow us the opportunity to meet with you personally to discuss your legal needs and explain how we would handle your case.